US gasoline futures slipped below $3.10 per barrel on Tuesday, pausing the prior session’s advance as markets weighed indications that Iran may join US talks before the ceasefire deadline. Reports suggest Tehran is preparing to send a delegation to Islamabad despite earlier reluctance to re-enter negotiations, although the delegation’s leader has yet to be confirmed.
Sentiment remained fragile after President Trump said an extension of the truce was highly unlikely and warned of the prospect of overwhelming military force. Iran’s chief negotiator, in turn, accused Washington of exerting undue pressure on the talks, rejected dialogue under threat, and warned of a potential escalation.
Persistent conflict across the Middle East has fueled pronounced volatility in energy markets since March, compounded by the continued closure of the Strait of Hormuz. The impasse at this critical maritime chokepoint is heightening concerns over the risk of a deeper global energy crisis.
